By FOX Sports staff
Higuain, who has been with Los Blancos since 2007 but is still only 25, has spent the past season struggling to retain his first-team spot and is said to be no longer deemed as an invaluable asset at the club, given they now have the likes of Cristiano Ronaldo and Karim Benzema to rely on for firepower up front.
Although his credentials have seen him linked with a number of top clubs across Europe, Arsenal have regularly been named as the frontrunners for his services and according to the Guardian, the Barclays Premier League outfit could make a concrete offer once the Argentine's future becomes more certain in the coming weeks.
Since the departure of Jose Mourinho, Real have been without a coach but are said to be keen on appointing current Paris Saint-Germain boss Carlo Ancelotti, who has already made clear of his desire to move to the Spanish capital.
However, it remains to be seen if Higuain will play a part in the Italian's plans should he indeed arrive at the Bernabeu but Wenger is reportedly monitoring the situation closely as he lines up his first major signing of the summer.
The report further adds that the Gunners are seriously considering meeting Real's £25million valuation of the ex-River Plate striker, which would smash the record £15m the north London club paid back in 2009 when they signed Andrei Arshavin from Zenit St Petersburg.